Verition Fund Management LLC purchased a new position in The Bank of Nova Scotia (NYSE:BNS – Free Report) (TSE:BNS) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,742 shares of the bank’s stock, valued at approximately $258,000.
Other large investors also recently bought and sold shares of the company. Sigma Planning Corp grew its holdings in Bank of Nova Scotia by 1.9% in the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock worth $604,000 after purchasing an additional 210 shares during the period. Signaturefd LLC increased its position in Bank of Nova Scotia by 1.2% during the 3rd quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock valued at $1,006,000 after buying an additional 216 shares in the last quarter. Addison Advisors LLC increased its position in Bank of Nova Scotia by 7.3% during the 3rd quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after buying an additional 227 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Bank of Nova Scotia by 11.9% during the third quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock valued at $148,000 after buying an additional 288 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in shares of Bank of Nova Scotia by 1.1% in the third quarter. Pinnacle Associates Ltd. now owns 27,800 shares of the bank’s stock worth $1,515,000 after acquiring an additional 300 shares during the last quarter. 49.13% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Barclays upgraded shares of Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada increased their target price on Bank of Nova Scotia from $65.00 to $74.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Moderate Buy” and a consensus price target of $72.00.
Bank of Nova Scotia Trading Up 0.3 %
Shares of BNS stock opened at $55.42 on Friday. The stock has a market capitalization of $69.00 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.26 and a beta of 1.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $54.13 and its 200 day moving average is $50.26. The Bank of Nova Scotia has a 12-month low of $43.67 and a 12-month high of $57.07.
Bank of Nova Scotia Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Tuesday, January 7th will be given a dividend of $0.7535 per share. This represents a $3.01 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend is Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 72.45%.
Bank of Nova Scotia Company Profile
The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.
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